The recent storm No. 10 Bualoi has seriously affected it. Many cars stalled and were flooded. Many cars are in a situation of being hit by a water spike.
People should note that even though they have purchased physical insurance (c assurance), not all cases of chickenpox are compensated.
First of all, we need to clearly understand the concept of chickenpox. Hydropower is when a car enters a flooded area and causes water to overflow into the incinerator. This leads to engine failure. When the driver tries to re khoi dong, the brake will be bent or broken, causing severe damage.
Hydropower insurance is an additional provision in the vehicle's physical insurance package to help protect the vehicle in case the engine is damaged by flooding. However, usually this insurance is only paid when the vehicle is stung by the water due to objective factors, not applied if the vehicle owner intentionally enters a flooded area.
The price of waterway insurance depends on many different factors. Of which, the following 3 factors will most likely affect the cost of buying this insurance package:
Vehicle value: The larger the value of a vehicle, the higher the purchase fee for shock insurance.
Each insurance company will apply different fee tables, corresponding to the compensation policy and accompanying benefits.
Types of vehicle physical insurance: Regular hydraulic insurance comes with selected vehicle physical insurance. Accordingly, sailing is an expanded provision of this package.
Normally, the shock insurance premium will be applied ranging from 0.1% - 0.3% of the vehicle value/year. For example:
For vehicles worth VND500 million, the insurance premium to be paid is from VND500,000 - 1.5 million/year.
For a 1 billion VND vehicle, the insurance cost can range from 1 - 3 million VND/year.
In addition, some insurance companies in Vietnam are currently applying promotional programs to significantly reduce costs when purchasing this extended insurance. Therefore, when choosing a vehicle, the vehicle owner should carefully refer to the contract terms to ensure maximum benefits for themselves.
When you learn about the price of shock insurance, you may find that the cost of this additional benefit is not too high but the benefits are huge. However, whether to buy a wateryear insurance or not is an important decision, depending on many factors such as living area, vehicle conditions and vehicle value.
If you live in an area that is often flooded, buying this insurance is a reasonable choice to avoid losing a large sum of money when your vehicle is damaged by a seaweed attack. In particular, for luxury or high-value vehicles, the repair cost will be even higher, so having a drowning insurance is always an effective financial protection measure.
However, for cars you use with a high chassis, less movement in flooded areas or old, low value, buying insurance may not be necessary. To make a decision, you should read the contract terms carefully to avoid unfavorable constraints for yourself when your vehicle is flooded.
